2023 Best Small Mortgage Companies to Work For

March 16, 2023 5:00 AM

The Best Mortgage Companies to Work For program is a partnership between National Mortgage News and the Best Companies Group, which conducts extensive employee surveys and reviews employer reports on benefits and policies. The employee survey covers eight topics: Leadership and Planning; Corporate Culture and Communications; Role Satisfaction; Work Environment; Relationship with Supervisor; Training, Development and Resources; Pay and Benefits; and Overall Engagement.

Once the survey data is analyzed, the companies get a score that decides their ranking. The overall score is calculated using the employee survey (worth 75%) and the employer questionnaire (worth 25%). To qualify for consideration, organizations with 25 or more employees need a minimum response rate of 40% while organizations with 25 or fewer employees need 80%.

Participation is open to a standalone mortgage lender, mortgage broker, mortgage servicer, or mortgage unit of a diversified financial services firm with at least 15 permanent employees working in the United States. While companies must opt-in to the rankings, not every entity that participates in the survey makes the list.

M2 Lending Solutions

Headquarters: Denver, Colorado
Number of employees: 22
Website:

www.m2lending.com

With more than 20 years in the business, this private lender focuses on customized products for first-timers, investors and others while providing a full range of benefits to employees including a 401k match, wellness programs, and a fully stocked kitchen in its flexible workspace.

Rehab Financial Group employees at work. <br/>

Rehab Financial Group

Headquarters: Rosemont, Pennsylvania
Number of employees: 34
Website:

www.rehabfinancial.com

The business was formed in 2009 from a predecessor firm that was winding down during the Great Financial Crisis, said co-founder and president Susan Naftulin. Rehab is a major fix-and-flip and fix-to-rent lender and attracts a wide variety of borrowers across East Coast markets. The firm enjoyed a successful 2022 despite greater market turmoil, delivering raises and bonuses to those who earned them and not undertaking any layoffs.

Internally, Rehab has a casual working style and isn't very hierarchical, Naftulin said.

"We have a collegial group. We work really well together," she said. "There's a great deal of humor. It's very personal. Which isn't to say we don't work hard, but we respect each other and we're polite to each other and we speak nicely to each other and it's your job to fit in."

Total Quality Lending

Headquarters: Irvine, California
Numbers of employees: 40
Website:

www.totalqualitylending.com

After working for big corporate home lenders, Christopher Paliska and Becky Quarress co-founded this boutique shop in April 2019 to "help less people do more." The CEO and COO, respectively, also sought to create a company culture that supports their employees entirely - even their spiritual health.

"We committed to helping people total quality life in faith, relationships, health, wealth," Paliska said.

They've produced a number of personal development events for staffers, including hosting speakers to couch staffers on how to navigate anxiety, depression, and other issues. The company headquartered in Irvine, California is licensed to do business in 30 states and currently has five offices.

Coastal Credit Union

Headquarters: Raleigh, North Carolina
Number of employees: 69
Website:

www.coastal24.com

Coastal's CEO Chuck Purvis, who has been with the credit union since 2012, will be retiring in March and succeeded by Tyler Grodi, who previously headed up EFCU Financial in Baton Rouge, Louisiana. Vice President Wendy Dawson leads Coastal's mortgage team. Coastal's residential finance offerings include first-lien mortgages, home equity loans and lines of credit, according to its website.

The credit union as a whole and other aspects of its operations also have received national, state and local recognition on Best Companies to Work For lists. Coastal was among the top credit unions in 2021.

In 2022, it was on the list of leading North Carolina Employers to Work For and in the top ranks of companies in the Triangle region around Raleigh, Durham and Chapel Hill. The company also received recognition as one of the Leaders in Diversity from the Triangle Business Journal in 2020, and the Advancing Equity Award from the Carolinas Credit Union Foundation this year. In its most recent surveys, the company had a net promoter score of 66.9 on a scale of -100 to 100.

Developer's Mortgage Company

Headquarters: Columbus, Ohio
Number of Employees: 72
Website:

www.developersmortgage.com

"Since 1980, Developer's Mortgage has been providing home financing, and offering a wide array of loan options to fit most every need. We are not your typical mortgage company. We are really good at what we do, and we believe it's important," a company statement said. "Our client-centric process is straight forward and simple. Our job is to help educate our customers, give them choices, explain to them what the process will be, and then make sure we live up to that commitment."

The company has eight branches in five states, primarily Ohio and Pennsylvania. It offers employees flexible schedules and the opportunity for remote work.

North Dakota Housing Finance Agency

Headquarters: Bismarck, North Dakota
Number of employees: 26
Website:

www.ndhfa.org

The North Dakota Housing Finance Agency has been ranked as one of Best Mortgage Companies to Work for in servicing for the second year in a row.

"We never sell servicing off. It stays right here locally. So I always like to tell people that you've got questions, you've got somebody local here that's got the answers," said Brandon Dettlaff, director of the homeownership division.

While NDHFA is a state agency, it does not operate off of public funding but rather has a self-supporting business model.

"All of our revenues are created from our homeownership programs. Any profits we do make are reinvested into other homeownership opportunities," Dettlaff said.

The agency occasionally has job openings that it's recently been filling with people from customer service backgrounds and offers some training. While the pay at a state agency has limits, the company offers other forms of internal and external community engagement other organizations may not, he said.

"We've seen some people come in from non-banks and also completely random walks of life and become incredible team members," Detlaff said. "We hope people stay. They could leave us for another job in the banking world, but so far we haven't really seen that."

Astar Home Capital

Headquarters: Monroe, New York
Number of employees: 90
Website:

www.astarhomecapital.com

The Westchester, New York-based mortgage broker founded in 2017 touts a comprehensive profile of loans including interest-only loans and home equity line of credit products. AStar has a large presence around the New York City area but also counts offices in Florida, Texas and Los Angeles, and is licensed to operate in 14 states nationwide. AStar is developing its benefits offerings and gives employees 25 paid holidays, the most among companies ranked. Other perks include trips, company gatherings and bonuses for its top producers.

American Mortgage Network

Headquarters: Chula Vista, California
Number of Employees: 80
Website:

www.amnetmtg.com

American Mortgage Network, AmNet for short, was founded in 2019 and is 100% employee-owned. The company currently lends in 30 states, focusing on conventional loans, Federal Housing Administration and Veterans Affairs offerings as well as jumbo loans.

"While many mortgage banks are laying off or closing, we look at this as an opportunity to strengthen our team and add talented mortgage professionals. It has also broadened our geographic reach with mortgage professionals doing business in the Midwest, Florida and Texas," a company statement said.

Method Mortgage

Headquarters: Vestavia Hills, Alabama
Number of Employees: 19
Website: www.methodmortgage.com

Method Mortgage is a regional retail lender licensed in four Southeastern states, with one branch in Alabama. Its small size contributes to a cooperative atmosphere at the company, according to Roger Steur, a founding partner. "We don't have silos. We try to encourage people never to say that's not my job. Everyone kind of helps each other," he said.

During a slow lending cycle, the company is trying to support and "empower" staff to explore different aspects of the mortgage business when they express interest to grow both personally and professionally beyond their job descriptions.

"If they see a process we've got in place that they think could be better if we did X, Y, or Z — while we're slower, we're allowing them to voice that and take ownership of different parts and pieces of the mortgage process," Steur said.

Both employee and company stand to gain. A current back office employee is now close to become a licensed loan officer, Steur said.

Mattamy Home Funding

Headquarters: Maitland, Florida
Number of employees: 86
Website:

www.mattamyhf.com

The joint venture lender and servicer of a homebuilder, Mattamy was formed in 2008 and does the majority of its loans in Florida, followed by Arizona, North Carolina and Texas. Mattamy is a "customer service company that does mortgages," president Estelle Norvell said about its approach to borrowers.

Internally, the firm promotes transparency with easy access to leadership and period discussions about its business strategies and the market at-large. Norvell said staff feel better about the company's open communication, whether it's been good or bad news.

"I always find that people stay working for a place they feel comfortable," she said. "They feel as though they are a value add, that they're providing something right, and that they can trust you."